This report describes and explains the microchannel heat exchanger market and covers 2019-2024, termed the historic period, and 2024-2029, 2034F termed the forecast period. The report evaluates the market across each region and for the major economies within each region.
The global microchannel heat exchanger market reached a value of nearly $14.22 billion in 2024, having grown at a compound annual growth rate (CAGR) of 6.28% since 2019. The market is expected to grow from $14.22 billion in 2024 to $22.24 billion in 2029 at a rate of 9.36%. The market is then expected to grow at a CAGR of 9.22% from 2029 and reach $34.57 billion in 2034.
Growth in the historic period resulted from the economic growth, rising automotive industry and increasing industrialization. Factors that negatively affected growth in the historic period were supply chain disruptions.
Going forward, the increasing urbanization, shift towards renewable energy, increasing construction industry, growth in data centers, expansion of smart cities, rise in consumer electronics and favorable government initiatives will drive the growth. Factor that could hinder the growth of the microchannel heat exchanger market in the future include labor shortages.
The global microchannel heat exchanger market is fairly fragmented, with a large number of small players operating in the market. The top ten competitors in the market made up to 22.5% of the total market in 2023. Alfa Laval AB. was the largest competitor with a 3.56% share of the market, followed by Zhejiang DUNAN Artificial Environment Co. Ltd. with 3.09%, Daikin Industries Ltd. 2.90%, API Heat Transfer Inc. with 2.77%, Danfoss A/S. with 2.61%, Evapco Inc. with 2.37%, DENSO Corporation with 1.91%, Sanhua Holding Group Co. Ltd. with 1.59%, Kobelco (Kobe Steel, Ltd.) with 0.87% and Brazeway Inc. with 0.84%.
The microchannel heat exchanger market is segmented by type into air handling units, heat pumps, fan coil units and other types. The air handling units market was the largest segment of the microchannel heat exchanger market segmented by type, accounting for 33.79% or $4.8 billion of the total in 2024. Going forward, the heat pumps segment is expected to be the fastest growing segment in the microchannel heat exchanger market segmented by type, at a CAGR of 10.68% during 2024-2029.
The microchannel heat exchanger market is segmented by material type into metal and ceramic. The metal market was the largest segment of the microchannel heat exchanger market segmented by material type, accounting for 84.73% or $12.04 billion of the total in 2024. Going forward, the metal segment is expected to be the fastest growing segment in the microchannel heat exchanger market segmented by material type, at a CAGR of 9.40% during 2024-2029.
The microchannel heat exchanger market is segmented by fluid mechanism into single coil, dual coil and multi coil. The single coil market was the largest segment of the microchannel heat exchanger market segmented by fluid mechanism, accounting for 49.48% or $7.03 billion of the total in 2024. Going forward, the dual coil segment is expected to be the fastest growing segment in the microchannel heat exchanger market segmented by fluid mechanism, at a CAGR of 9.86% during 2024-2029.
The microchannel heat exchanger market is segmented by end-use industry into automotive, heating, ventilation and air conditioning (HVAC), commercial refrigeration and other end-use industries. The heating, ventilation and air conditioning (HVAC) market was the largest segment of the microchannel heat exchanger market segmented by end-use industry, accounting for 40.73% or $5.79 billion of the total in 2024. Going forward, the automotive segment is expected to be the fastest growing segment in the microchannel heat exchanger market segmented by end-use industry, at a CAGR of 10.25% during 2024-2029.
Asia Pacific was the largest region in the microchannel heat exchanger market, accounting for 44.80% or $6.37 billion of the total in 2024. It was followed by North America, Western Europe and then the other regions. Going forward, the fastest-growing regions in the microchannel heat exchanger market will be Asia Pacific and Western Europe where growth will be at CAGRs of 9.97% and 9.63% respectively. These will be followed by Eastern Europe and South America where the markets are expected to grow at CAGRs of 8.85% and 8.79% respectively.
The top opportunities in the microchannel heat exchanger markets segmented by type will arise in the air handling units segment, which will gain $2.91 billion of global annual sales by 2029. The top opportunities in the microchannel heat exchanger market segmented by material type will arise in the metal segment, which will gain $6.83 billion of global annual sales by 2029. The top opportunities in the microchannel heat exchanger markets segmented by fluid mechanism will arise in the single coil segment, which will gain $4.17 billion of global annual sales by 2029. The top opportunities in the microchannel heat exchanger markets segmented by end-use industry will arise in the heating, ventilation and air conditioning (HVAC) segment, which will gain $3.34 billion of global annual sales by 2029. The microchannel heat exchanger market size will gain the most in China at $2.2 billion.
Market-trend-based strategies for the microchannel heat exchanger market include focus on developing technologically advanced products, focus on expanding manufacturing facilities, focus on developing advanced products, such as heat pumps and focus on developing innovative products such as brazed plate heat exchangers (BPHE) for enhance heat transfer efficiency.
Player-adopted strategies in the microchannel heat exchanger market include focus on strengthening its business operations through strategic investments, focus on enhancing business capabilities through the launch of new products and focus on strengthening its business operations through technological advancements.
To take advantage of the opportunities, the analyst recommends the microchannel heat exchanger companies to focus on developing energy-efficient heat exchangers, focus on expanding manufacturing capabilities, focus on developing heat pumps with advanced capabilities, focus on developing brazed plate heat exchangers, focus on heat pumps for market growth, focus on metal for market growth, focus on dual coil for market growth, expand in emerging markets, focus on expanding distribution channels for microchannel heat exchanger companies, focus on price optimization through market segmentation, focus on digital marketing strategies to drive growth for companies, focus on building strategic partnerships to enhance market reach and focus on automotive for market growth.
The global microchannel heat exchanger market reached a value of nearly $14.22 billion in 2024, having grown at a compound annual growth rate (CAGR) of 6.28% since 2019. The market is expected to grow from $14.22 billion in 2024 to $22.24 billion in 2029 at a rate of 9.36%. The market is then expected to grow at a CAGR of 9.22% from 2029 and reach $34.57 billion in 2034.
Growth in the historic period resulted from the economic growth, rising automotive industry and increasing industrialization. Factors that negatively affected growth in the historic period were supply chain disruptions.
Going forward, the increasing urbanization, shift towards renewable energy, increasing construction industry, growth in data centers, expansion of smart cities, rise in consumer electronics and favorable government initiatives will drive the growth. Factor that could hinder the growth of the microchannel heat exchanger market in the future include labor shortages.
The global microchannel heat exchanger market is fairly fragmented, with a large number of small players operating in the market. The top ten competitors in the market made up to 22.5% of the total market in 2023. Alfa Laval AB. was the largest competitor with a 3.56% share of the market, followed by Zhejiang DUNAN Artificial Environment Co. Ltd. with 3.09%, Daikin Industries Ltd. 2.90%, API Heat Transfer Inc. with 2.77%, Danfoss A/S. with 2.61%, Evapco Inc. with 2.37%, DENSO Corporation with 1.91%, Sanhua Holding Group Co. Ltd. with 1.59%, Kobelco (Kobe Steel, Ltd.) with 0.87% and Brazeway Inc. with 0.84%.
The microchannel heat exchanger market is segmented by type into air handling units, heat pumps, fan coil units and other types. The air handling units market was the largest segment of the microchannel heat exchanger market segmented by type, accounting for 33.79% or $4.8 billion of the total in 2024. Going forward, the heat pumps segment is expected to be the fastest growing segment in the microchannel heat exchanger market segmented by type, at a CAGR of 10.68% during 2024-2029.
The microchannel heat exchanger market is segmented by material type into metal and ceramic. The metal market was the largest segment of the microchannel heat exchanger market segmented by material type, accounting for 84.73% or $12.04 billion of the total in 2024. Going forward, the metal segment is expected to be the fastest growing segment in the microchannel heat exchanger market segmented by material type, at a CAGR of 9.40% during 2024-2029.
The microchannel heat exchanger market is segmented by fluid mechanism into single coil, dual coil and multi coil. The single coil market was the largest segment of the microchannel heat exchanger market segmented by fluid mechanism, accounting for 49.48% or $7.03 billion of the total in 2024. Going forward, the dual coil segment is expected to be the fastest growing segment in the microchannel heat exchanger market segmented by fluid mechanism, at a CAGR of 9.86% during 2024-2029.
The microchannel heat exchanger market is segmented by end-use industry into automotive, heating, ventilation and air conditioning (HVAC), commercial refrigeration and other end-use industries. The heating, ventilation and air conditioning (HVAC) market was the largest segment of the microchannel heat exchanger market segmented by end-use industry, accounting for 40.73% or $5.79 billion of the total in 2024. Going forward, the automotive segment is expected to be the fastest growing segment in the microchannel heat exchanger market segmented by end-use industry, at a CAGR of 10.25% during 2024-2029.
Asia Pacific was the largest region in the microchannel heat exchanger market, accounting for 44.80% or $6.37 billion of the total in 2024. It was followed by North America, Western Europe and then the other regions. Going forward, the fastest-growing regions in the microchannel heat exchanger market will be Asia Pacific and Western Europe where growth will be at CAGRs of 9.97% and 9.63% respectively. These will be followed by Eastern Europe and South America where the markets are expected to grow at CAGRs of 8.85% and 8.79% respectively.
The top opportunities in the microchannel heat exchanger markets segmented by type will arise in the air handling units segment, which will gain $2.91 billion of global annual sales by 2029. The top opportunities in the microchannel heat exchanger market segmented by material type will arise in the metal segment, which will gain $6.83 billion of global annual sales by 2029. The top opportunities in the microchannel heat exchanger markets segmented by fluid mechanism will arise in the single coil segment, which will gain $4.17 billion of global annual sales by 2029. The top opportunities in the microchannel heat exchanger markets segmented by end-use industry will arise in the heating, ventilation and air conditioning (HVAC) segment, which will gain $3.34 billion of global annual sales by 2029. The microchannel heat exchanger market size will gain the most in China at $2.2 billion.
Market-trend-based strategies for the microchannel heat exchanger market include focus on developing technologically advanced products, focus on expanding manufacturing facilities, focus on developing advanced products, such as heat pumps and focus on developing innovative products such as brazed plate heat exchangers (BPHE) for enhance heat transfer efficiency.
Player-adopted strategies in the microchannel heat exchanger market include focus on strengthening its business operations through strategic investments, focus on enhancing business capabilities through the launch of new products and focus on strengthening its business operations through technological advancements.
To take advantage of the opportunities, the analyst recommends the microchannel heat exchanger companies to focus on developing energy-efficient heat exchangers, focus on expanding manufacturing capabilities, focus on developing heat pumps with advanced capabilities, focus on developing brazed plate heat exchangers, focus on heat pumps for market growth, focus on metal for market growth, focus on dual coil for market growth, expand in emerging markets, focus on expanding distribution channels for microchannel heat exchanger companies, focus on price optimization through market segmentation, focus on digital marketing strategies to drive growth for companies, focus on building strategic partnerships to enhance market reach and focus on automotive for market growth.
Major Market Trends
- Revolutionizes Heat Exchanger Market With Next-Gen MCHE Technology
- Strategic Expansion of Manufacturing Facilities
- Advanced Heat Pumps With Microchannel Heat Exchanger Technology
- Innovative Brazed Plate Heat Exchangers Revolutionize HVAC&R Efficiency
Key Mergers and Acquisitions
- Pentair Plc Acquires G & F Manufacturing LLC
- Robert Bosch GmbH Acquires Johnson Controls
- Nexson Group Acquires Thermowave GmbH
- 2G Energy AG Acquires NRGTEQ.
Table of Contents
1 Executive Summary
6 Market Characteristics
7 Major Market Trends
8 Microchannel Heat Exchanger Market - Macro Economic Scenario
9 Global Market Size and Growth
10 Global Microchannel Heat Exchanger Market Segmentation
11 Microchannel Heat Exchanger Market, Regional and Country Analysis
12 Asia-Pacific Market
13 Western Europe Market
14 Eastern Europe Market
15 North America Market
16 South America Market
17 Middle East Market
18 Africa Market
19 Competitive Landscape and Company Profiles
20 Other Major and Innovative Companies
23 Key Mergers and Acquisitions
24 Opportunities and Strategies
25 Microchannel Heat Exchanger Market, Conclusions and Recommendations
26 Appendix
Executive Summary
Microchannel Heat Exchanger Global Market Opportunities and Strategies to 2034 provides the strategists; marketers and senior management with the critical information they need to assess the global microchannel heat exchanger market as it emerges from the COVID-19 shut down.Reasons to Purchase:
- Gain a truly global perspective with the most comprehensive report available on this market covering 15 geographies.
- Understand how the market is being affected by the coronavirus and how it is likely to emerge and grow as the impact of the virus abates.
- Create regional and country strategies on the basis of local data and analysis.
- Identify growth segments for investment.
- Outperform competitors using forecast data and the drivers and trends shaping the market.
- Understand customers based on the latest market research findings.
- Benchmark performance against key competitors.
- Utilize the relationships between key data sets for superior strategizing.
- Suitable for supporting your internal and external presentations with reliable high-quality data and analysis.
Description
Where is the largest and fastest-growing market for microchannel heat exchanger? How does the market relate to the overall economy; demography and other similar markets? What forces will shape the market going forward? The microchannel heat exchanger market global report answers all these questions and many more.The report covers market characteristics; size and growth; segmentation; regional and country breakdowns; competitive landscape; market shares; trends and strategies for this market. It traces the market’s history and forecasts market growth by geography. It places the market within the context of the wider microchannel heat exchanger market; and compares it with other markets.
The report covers the following chapters:
- Introduction and Market Characteristics - Brief introduction to the segmentations covered in the market, definitions and explanations about the segment by type, by material type, by fluid mechanism and by end-use industry.
- Key Trends - Highlights the major trends shaping the global market. This section also highlights likely future developments in the market.
- Macro-Economic Scenario - the report provides an analysis of the impact of the COVID-19 pandemic, impact of the Russia-Ukraine war and impact of rising inflation on global and regional markets, providing strategic insights for businesses in the microchannel heat exchanger market.
- Global Market Size and Growth - Global historic (2019-2024) and forecast (2024-2029, 2034F) market values and drivers and restraints that support and control the growth of the market in the historic and forecast periods.
- Regional and Country Analysis - Historic (2019-2024) and forecast (2024-2029, 2034F) market values and growth and market share comparison by region and country.
- Market Segmentation - Contains the market values (2019-2024) (2024-2029, 2034F) and analysis for each segment by type, by material type, by fluid mechanism and by end-use industry in the market. Historic (2019-2024) and forecast (2024-2029) and (2029-2034) market values and growth and market share comparison by region market.
- Regional Market Size and Growth - Regional market size (2024), historic (2019-2024) and forecast (2024-2029, 2034F) market values and growth and market share comparison of countries within the region. This report includes information on all the regions Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa and major countries within each region.
- Competitive Landscape - Details on the competitive landscape of the market, estimated market shares and company profiles of the leading players.
- Other Major and Innovative Companies - Details on the company profiles of other major and innovative companies in the market.
- Competitive Benchmarking - Briefs on the financials comparison between major players in the market.
- Competitive Dashboard - Briefs on competitive dashboard of major pl Competitive Dashboard Briefs on competitive dashboard of major players.
- Key Mergers and Acquisitions - Information on recent mergers and acquisitions in the market covered in the report. This section gives key financial details of mergers and acquisitions, which have shaped the market in recent years.
- Market Opportunities and Strategies: Describes market opportunities and strategies based on findings of the research, with information on growth opportunities across countries, segments and strategies to be followed in those markets.
- Conclusions and Recommendations: This section includes recommendations for microchannel heat exchanger providers in terms of product/service offerings geographic expansion, marketing strategies and target groups.
- Appendix - This section includes details on the NAICS codes covered, abbreviations and currencies codes used in this report.
Scope
Markets Covered:
1)by Type: Air Handling Units; Heat Pumps; Fan Coil Units; Other Types2)by Material: Metal; Ceramic
3)by Fluid Mechanism: Single Coil; Dual Coil; Multi Coil
4)by End-User Industry: Automotive; Heating, Ventilation and Air Conditioning (HVAC); Commercial Refrigeration; Other End-Use Industries
Key Companies Mentioned: Alfa Laval AB; Zhejiang DUNAN Artificial Environment Co. Ltd; Daikin Industries Ltd; API Heat Transfer Inc; Danfoss a/S
Countries: China; Australia; India; Indonesia; Japan; South Korea; USA; Brazil; France; Germany; UK; Italy; Spain; Russia
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time Series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets; GDP proportions; expenditure per capita; microchannel heat exchanger indicators comparison.
Data Segmentation: Country and regional historic and forecast data; market share of competitors; market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Companies Mentioned
Some of the major companies featured in this Microchannel Heat Exchanger market report include:- Alfa Laval AB
- Zhejiang DUNAN Artificial Environment Co. Ltd
- Daikin Industries Ltd
- API Heat Transfer Inc
- Danfoss A/S
- Evapco Inc.
- DENSO Corporation
- Sanhua Holding Group Co. Ltd.
- Kobelco (Kobe Steel, Ltd.)
- Brazeway Inc.
- Danfoss India
- Amber Enterprises India Ltd
- Zhejiang SunCo Heat Exchange System Co., Ltd.
- Alleima
- Carrier Global
- Airedale International Air Conditioning
- UK Exchangers Ltd
- Midea RAC
- Kaltra
- NEXSON Group SAS
- Thermowave GmbH
- Sinop CZ s.r.o
- Aira
- HESS
- RAAL S.A
- BORSIG Process Heat Exchanger GmbH
- HMZ Export-Import d.o.o
- Modine Manufacturing Company
- Parker Hannifin Corporation
- Heatcraft Refrigeration Products
- Kelvion Inc
- Lennox International Inc
- Johnson Controls
- Rheem Manufacturing Company
- Sanden International (USA) Inc
- Alfa Laval Inc
- Thermal Solutions Products, Inc
- Hayward Holdings, Inc
- Lytron Inc
- Flex Ltd
- JETCOOL Technologies Inc
- Termomecanica
- Rheem Manufacturing
- Embraco
- Gree Electric Appliances
- Frigoglass
- Metalfrio Solutions
- Zamil Air Conditioners
- Emirates Industrial Panel
- Cooltech Engineering
- KTI-Plersch Kältetechnik GmbH
- Sondex Inc
- Thermal Care Inc
- Steinmüller Africa (Pty) Ltd
- Alphacool International GmbH
- Heat Exchanger Industries
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 316 |
| Published | February 2025 |
| Forecast Period | 2024 - 2034 |
| Estimated Market Value ( USD | $ 14.22 Billion |
| Forecasted Market Value ( USD | $ 34.57 Billion |
| Compound Annual Growth Rate | 9.3% |
| Regions Covered | Global |
| No. of Companies Mentioned | 57 |
